Hamilton Lane's Erik Hirsch on Private Markets, AI Exposure, and Access Routes

Erik Hirsch of Hamilton Lane joins Bloomberg Tech to explain how investors gain exposure to private markets and AI-related companies as firms such as OpenAI and Anthropic move toward public listings. The discussion outlines how institutional and retail access differs, and how Hamilton Lane invests through managers rather than directly leading deals.

■ Private-market access
- Institutional use of closed-end venture funds versus retail evergreen funds
- Primary fund commitments, secondary purchases, continuation funds, and co-investments

■ AI and private-company trends
- Evaluating businesses and entry valuations with uneven information access
- Why companies stay private longer and what that means for public markets
- Opportunities beyond frontier AI labs, including adjacent AI themes

■ Investment approach
- LP-GP relationship dynamics and deal sourcing
- Hamilton Lane's use of co-investment, secondaries, and primaries across asset classes

This conversation is suited to viewers seeking an overview of private-market structures and how exposure to AI companies can be built before and after IPOs. It provides context for comparing public and private portfolio allocations without offering specific investment recommendations.